Top 9 Richest Forex Traders and Their Net Worth [for 2023] (2024)

In trading, much like any other field, only a few can make it to the top. For them, the forex market is a place to grow wealth and a lot. And they are known as the world’s richest traders.

In this inspirational article, we have listed the world’s top 9 richest forex traders and their net worth. We’ll also talk about the potential income traders can make from forex trading and the top trading skills shared by top forex traders.

How Much Do Top Forex Traders Make?

You may have seen YouTube videos where a guy blabs on getting super rich from trading currencies. But, of course, this isn’t true! These are usually clickbait videos.

Generally speaking, the return forex traders make is determined primarily by how much money they invest. While every forex trader has the ability to invest a different sum, numbers can be significant when you calculate the profits in percentages rather than in absolute numbers.

So, what’s considered a good monthly return for forex traders? Many pro traders see their forex accounts gaining 5-10% per month. Of course, it isn’t consistent as markets are unpredictable, but most of the time, pro traders can make such a percentage as ROI.

But, this calculation also means that you need an account balance of at least $100K to make a monthly salary of $5000, a sum that not every person can invest in starting a forex trading career.

That’s one of the many reasons why prop trading firms, are willing to allocate capital for forex traders. As most people do not have the initial capital to start their trading business, a prop trading firm provides traders with real capital and enables prop traders to keep 70% of the profits. You can learn more about proprietary trading from our guides.

Trading Skills Shared by Successful Traders

In the last section, we mentioned how pro traders could make 10% profit in a month, but it isn’t easy. They have specific skills and a proper plan for executing a trade.

So, here’s how successful traders stand out from the herd:

Top 9 Forex Richest Traders of All-Time and Their Net Worth (for 2023)

Let’s come to the juiciest part of the article. Here we’ll mention the eight richest forex traders on the planet. Let’s start!

1. Ray Dalio

From the tender age of 12, Ray Dalio showcased his financial prowess by investing $300 in Northeast Airlines and seeing a threefold return when the airline later merged. Fast forward to 1975, after earning his credentials from Harvard Business School, Dalio embarked on a new venture.

Starting from the confines of his modest two-bedroom apartment in New York City, he established Bridgewater. This brainchild of his swiftly climbed the ranks in the 1980s, and by 2011, it proudly stood as the world’s most prominent hedge fund.

Ray Dalio is considered to be the richest forex trader in the world with an estimated net worth of $19.1 billion.

2. Paul Tudor Jones

Paul Tudor Jones, the founder of the Tudor Investment Corporation hedge fund, is known for his macro trades, notably his bets on interest rates and currencies.

Tudor, who is allegedly the richest forex trader in the world, made significant gains by placing massive short bets before the 1987 crisis, which made a pretty nice profit of $100M.

Since then, Jones mostly focused on interest rate fluctuations in the forex market. Jones was also the chairman of the New York Stock Exchange between 1992-1995 and founded the Robin Hood Foundation.

Today, according to Forbes, Paul Tudor Jones has an estimated net worth of $7.5 billion.

3. George Soros

One of the most famous traders on our list is George Soros. The legendary hedge fund manager and perhaps the most successful forex trader of all time.

In 1954, upon graduating with his MA degree from the London School of Economics, Soros began his trading career by taking merchant banking positions in the US and UK. And from there, his remarkable trading career began to take off.

In 1969, Soros founded his first hedge fund, Double Eagle (which was later renamed Quantum Fund), and in 1970, he founded his second hedge fund, Soros Fund Management.

George Soros is recognized for being a hands-on trader with a fantastic ability to make money. His 1992 short-sell position of the British pound, which almost brought down the Bank of England and gave him a $1 billion profit, earned him the title “the man who broke the Bank of England.”

However, Soros is a controversial figure and is often linked to different conspiracy theories (we highly recommend watching the documentary about George Soros).

According to Forbes, George Soros has an estimated net worth of $6.7 billion.

4. Bruce Kovner

Bruce Kovner is a well-known hedge fund manager and investor. He spent a year studying everything he could about the financial markets before taking the plunge and borrowing $3,000 on his credit card for his first investment to end with a profit of $22,000.

This helped Kovner become a prop trader for Commodities Corporation, which enabled him to amass a fortune and reputation as one of the most successful forex traders in the industry

Ultimately, he gained recognition after establishing Caxton Alternative Management in 1982. Kovner, unsurprisingly, eventually turned it into one of the world’s most profitable hedge funds.

According to Forbes, Bruce Koncer has an estimated net worth of $6.6 billion.

5. Stanley Druckenmiller

Druckenmiller, one of the wealthiest forex traders today, began his career in the business sector by earning a degree in economics. After learning the ropes, Druckenmiller established his own investing business, Duquesne Capital Management, in 1981.

He built such a solid track record that hedge fund superstar George Soros hired him to work at the Quantum Fund from 1988 until 2000. His popularity grew after he was included in the best-selling book The New Market Wizards, published in 1992.

Druckenmiller mentioned several times that his strategy focuses on the idea of maximizing profits when the trade is profitable and minimizing losses when the trade is wrong. Makes sense. In 2010, however, Druckenmiller shut down his hedge fund on the claim that the enormous amount of capital he was managing had been interrupted to continue performing successfully.

According to Forbes, Stanely Druckenmiller has an estimated net worth of $6.4 billion.

6. Joe Lewis

Joe Lewis began working at fifteen to assist his family’s catering business. Lewis sold the company after inheriting it and started his career in currency trading.

Lewis is considered part of a group of speculators who teamed up with George Soros to bet on the pound exiting the European exchange rate mechanism in 1992. The pound was driven out, partly due to their efforts, costing the Treasury an estimated loss of £3.4 billion and producing significant gains for Lewis, Soros, and others. Lewis, by the way, allegedly made a nice profit of $1.8B from this trade.

Today, according to Bloomberg, Joe Lewis has an estimated net worth of $5.6 billion.

7. Andrew J. Krieger

Andrew J. Krieger, or Andy as he is more often known, is one of the world’s most aggressive forex traders.

His trading career spans over 30 years, and he is most known for his 1987 Black Monday strategic play, which broke the New Zealand Central Bank and netted him over $300 million in one day. His sell orders were said to exceed New Zealand’s entire money supply.

Krieger joined George Soros’ Soros Fund Management in 1988. After a brief stint, he established Northbridge Capital Management Inc. and Krieger & Associates Ltd.

Andrew J. Krieger has an estimated net worth of $3 billion.

8. Bill Lipschutz

Bill Lipschutz began trading in the late 1970s while attending Cornell University. During that period, he turned $12,000 into $250,000, but he lost the entire investment due to a terrible trading mistake.

Lipschutz became a part of the infamous Salomon Brothers trading program. Lipschutz then joined their newly formed foreign exchange department, and within a few years, he was able to generate a steady $300 million for the firm. That has made him one of the most successful and richest forex traders in the world.

According to sources, Bill Lipschutz has an estimated net worth of around $2 billion.

9. Michael Marcus

Everyone enjoys a “rags to riches” story, and trading is no exception. Marcus entered the financial markets as a research analyst for a brokerage shortly after graduating college in 1969.

In 1972, he risked everything by investing his life assets of $700 in plywood futures. Yes, that’s right, plywood. Marcus easily doubled his initial $700 investment to $12,000. A year later, he nearly tripled his investment, turning $24,000 into $64,000.

He began working as a trader for a commodity firm in August 1974. As a trading fund, the corporation provided him with $30,000.

After around ten years, the fund’s yield had increased to about 2,500 times, with a total value of $80 million. By percentages, Marcus is possibly the most successful forex commodities trader of all time.

Michael Marcus has an estimated net worth of $1.4 billion.

Can I Get Rich Trading Forex?

Well, it’s always inspiring to hear stories about successful people. How did they do it, and what hardships did they face to get to the place they eventually reached?

But let’s come back to reality. “Can you get rich trading forex?”

Absolutely, but keep the following in mind before you give it a shot. Profits should be the second thing on your mind, and risk should come first. Of course, we all know forex trading is risky, but gain comes with risk. Your goal is to profit from measured risks taken at the right time.

If you want to make money trading forex, you must focus not only on your strategy but also on your mindset. You remain responsible and must have faith in what you are doing and the courage and determination to take risks at the right moment.

Many people back out because they are unwilling to risk their capital, and rightfully so. Trading with your money is much more stressful than trading with other people’s money. You can ask any trader from the above list, and they will likely tell you the same thing. They did it with investors’ funds. Now, we have a solution for you. You can sign up as a funded trader and trade with funded capital.

“The goal of a successful trader is to make the best trades. Money is secondary”

Alexander Elder

How to Improve Your Forex Trading Performance?

If you want to improve your forex trading performance, the first thing you need to do is learn. Even if you are currently profitable, learning is a constant requirement to stay ahead of other traders. So, here are some tips that might help you improve your trading performance:

• You must understand the market’s primary drivers and the main factors that affect currency price movements at any given moment.
• Read trading books, watch trading documentaries, and see videos online that will help you understand how financial markets work and the psychology behind trading.If you would like to get additional info, you can visit some of the top forex forums and find relevant discussions or check some of the top forex trading podcasts.
• If you are a beginner, we provide a free forex course that you can complete. You will learn everything from the basics, like bid/ask prices, to how to trade the most popular chart patterns. You can also use our free trading tools to improve your forex trading and join our trading room. In there, you get access to daily live streams from our trading analysts and join a community of traders.
• Stay organized and analyze your performance. To do so, use a trading plan template and review your trading results every day, week, and month.
• Practice, and a lot. Practice makes perfect and in trading, you must practice and backtest your forex trading strategy before you apply it in the live markets. Even professional traders are often dropped to the bench to practice on a demo account so they can gain confidence and clear their minds.

Summary

Undoubtedly, the richest forex traders in the world had to work hard to make their fortune. At basic, they put their time into learning about the market, staying disciplined, developing a trading strategy, and applying risk management tools. And that’s the starting point for every newcomer.

Remember, in the beginning, you need a solid trading method, discipline, and effective risk management to succeed as a forex trader. The next step is to learn how to use your strengths to increase your chances of success over the long term. Just like any of the guys above did, hopefully, their stories will help you become a better trader.